The global automotive performance parts market is anticipated to reach a valuation of US$ 532.02 Million by 2032, with sales growing at an average CAGR of 4.6% from 2022 to 2032. As a result of escalating demand for passenger cars, the market for automotive performance parts is likely to reach an estimated US$ 339.32 Million by the end of 2022.
The market for automotive performance components in the United States is expected to increase at a 3.0% CAGR until 2034.
Engine performance parts built exclusively for antique automobiles are in great demand, thanks to a resurgent interest in repairing and altering older vehicles. Businesses that specialise in restoration parts, retro-modern enhancements, and vintage-inspired performance components benefit from this trend since they serve enthusiasts who want to keep their affection for old automobiles while still having access to current performance modifications.
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The sales of automobile performance components in Germany are expected to grow at a 3.0% CAGR until 2034. The lengthy history of racing in Germany, which includes renowned events like the Nürburgring 24 Hours and well-known automakers such as Porsche, BMW, and Mercedes-Benz, fosters a culture of performance and driving expertise. This tradition moulds consumer tastes and feeds demand for high-performance parts inspired by racing engineering and technology.
Key Takeaways:
- The automotive performance parts market in the U.S. will account for 87% of the market share in North America.
- By suspension parts, sales of the shock absorbers segment will grow at 4.6%
- Sales of torque converters will register a CAGR of 5.8%.
- The air filters segment will grow at a CAGR of 4.2%.
- High demand for passenger cars will push the target market growth in China.
Competitive Landscape
Tenneco Inc., Robert Bosch GmbH, Continental AG, BorgWarner Inc., Mahle GmbH, Donaldson Company Inc., Holley Performance Products, MITSUBISHI HEAVY INDUSTRIES, LTD., Honeywell International Inc., EXEDY Corporation, Denso Corporation, AISIN SEIKI Co., Ltd., Hitachi Astemo, Ltd., The NGK Spark Plug Co., Ltd., Cummins Inc., ZF Friedrichshafen AG, Valeo, TREMEC, and Hyundai Mobis, among others are some of the major players in the automotive performance parts market profiled in the full version of the report.
Leading market players are focusing on adopting new strategies such as internet sales channels. Some of the other businesses are offering customizations and concentrating on expanding their businesses to gain a competitive advantage.
Key Segments
By Product Type:
- Exhaust Systems
- Headers
- Mufflers
- Oxygen Sensors
- Exhaust Pipes
- Catalytic Converters
- Suspension Parts
- Suspension Bushing
- Sway Bars
- Shock Absorbers
- Brakes
- Brake Pads
- Brake Rotors
- Brake Caliper
- Brake Lines
- Brake Master Cylinders
- Vacuum Pumps
- Fuel Air & Intake Systems
- Air Filters
- MAF Sensors
- Intake Manifold
- Throttle Bodies
- Fuel Filters
- Spark Plugs
- Fuel Injectors
- Fuel Pumps
- Transmission Parts
- Clutch Pressure Plates
- Flywheels
- Torque Converters
- Clutch Linkage
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- Power Adders
- Turbochargers
- Intercoolers
- Nitrous Oxide Systems
- Superchargers
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